BNP Paribas Sells Remaining Stake in First Hawaiian
30 January 2019 - 10:57PM
Dow Jones News
By Pietro Lombardi
BNP Paribas SA (BNP.FR) is selling its remaining stake in First
Hawaiian Inc (FHB) via the sale of 24.9 million shares by an
affiliate of the French bank.
"Following completion of the secondary offering, it is expected
that BNP Paribas will have fully exited its stake," the bank said
Wednesday.
The deal should have "a negligible positive impact" on BNP's
core tier 1 ratio in the first quarter of the year, it said.
The French banking giant has progressively reduced its stake in
First Hawaiian. In July, it said it would reduce its stake
following the sale of 20 million shares by an affiliate.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
January 30, 2019 06:42 ET (11:42 GMT)
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